I make a little under 200k/yr, have around 200k in liquid assets, have an excellent credit score, and live very modestly so under a normal mortgage I could easily qualify for something like that but normal mortgages arent allowed on commercial.The common alternative to that would be using a hard money lender.

Start talking to friends and family that trust you first as they will likely be your cheapest scenerio.Another alternative - the heck with everyone else.

Alternatively, you could pursue a house hacking strategy of some kind.

Or are there better alternative that you could recommend that are more suitable to Canadian tax laws and lending rules? 

@Taylor Rodriguez. if you need another alternative check out the Real Estate Business School in Austin.

Otherwise, there’s no problem with being the cheaper alternative.

Certainly open to alternatives I may have neglected to consider however!

An interesting alternative is to simply pay my mortgage off early.

(but now without a job, I doubt if they will be able to find another place to move into.....) possibly you can also offer cash for keys and offer to help them find alternatives or pay for their moving trucks.

There are multiple solutions for Niami to avoid a forced sale of the property, which include paying back all (or at least some) of the loan or coming to an alternative agreement with the lender.